Section 10(2) in The Insurance Regulatory And Development Authority (Registration Of Indian Insurance Companies) Regulations, 2000
(2)Every application shall be accompanied by-(a)documentary proof evidencing the making of deposit required under section 7 of the Act;(b)evidence of having rupees one hundred crore or more paid up equity share capital, in case the application for grant of certificate is for life insurance business or general insurance business;(c)evidence of having rupees two hundred crore or more paid up equity share capital, in case the application for grant of certificate is for reinsurance business;(d)an affidavit by the principal officer and the promoters of the applicant certifying that the requirements of the first proviso to section 6 of the Act to the effect that paid up share capital is adequate after excluding any preliminary expenses incurred in the formation and registration of the company and the deposit required to be made under section 7 of the Act have been satisfied;(e)a statement indicating the distinctive numbers of shares issued to each promoter and shareholder in respect of share capital of the applicant;(f)an affidavit by the principal officer and the promoters of the applicant certifying that the paid up equity capital referred to in sub-clause (b) of clause (7-A) of section 2 of the Act, calculated is in accordance with regulation 11 does not exceed twenty six per cent.;(g)a certified copy of the published prospectus, if any;(h)a certified copy of the standard forms of the insurer and statements of the assured rates, advantages, terms and conditions to be offered in connection with insurance policies together with a certificate by an actuary in case of life insurance business that such rates, advantages, terms and conditions are workable and sound;(i)a certified copy of the memorandum of understanding entered into between the Indian promoter and the foreign promoter, if any, or amongst the promoters as a whole including details of the support comfort letters exchanged between the parties;(j)the original receipt showing payment of the fee of rupees fifty thousand for a class of business;(k)a certificate from a practising chartered accountant or a practising company secretary certifying that all the requirements relating to registration fees, share capital, deposits, and other requirements of the Act have been complied with by the applicant;(l)any other information required by the Authority during the processing of the application for registration.
